Bitcoin Bulls Throw in the Towel as “Spoofy the Whale” Takes the Wheel 🐳📉

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Key Points:

  • Bitcoin dips below $113,000 as bulls decide to take an extended coffee break ☕.

  • Market manipulation rumors swirl like a bad soap opera, with exchange order-book bid liquidity stealing the spotlight 🎭.

  • The Federal Reserve’s Jackson Hole event promises more drama than a reality TV season finale 📺.

Bitcoin (BTC) decided to revisit its local lows at Wednesday’s Wall Street open, proving once again that bulls are terrible at timing their grand entrances 🚪. As the US sell-off repeated itself, traders were left scratching their heads-or perhaps just refreshing their screens in disbelief 🖥️.

Enter “Spoofy the Whale”: The Market’s New Favorite Villain 🐋

Data from CryptoMoon Markets Pro and TradingView showed BTC/USD slipping below $113,000 after a brief flirtation with recovery. Bid liquidity? Vanishing faster than free pizza at a crypto meetup 🍕. According to CoinGlass, $112,300 is now the magic number everyone’s watching.

Popular trader Daan Crypto Trades chimed in on X, saying: “$BTC took out liquidity like a kid knocking over dominoes for the past six weeks.” 🗑️ He added:

“The biggest cluster nearby sits at $120K, while $112K remains a ticking time bomb. Keep your eyes peeled-these zones can flip prices faster than you can say ‘HODL.’”

Keith Alan, co-founder of Material Indicators, hinted that lower bids might be part of a sinister plot involving entities he calls “Spoofy the Whale” and the “Notorious B.I.D.” 🐳🕵️‍♂️ These shadowy figures seem to enjoy playing puppet master with price action.

Alan quipped:

“Bids moving lower invite price to follow suit-it’s like throwing breadcrumbs to pigeons.” 🐦📉

TheKingfisher, another well-known commentator, warned that Bitcoin could bleed further, dragging altcoins down like a sinking ship 🚢. In his words:

“A 5% dip in BTC could send alts plummeting by 10-30%. It’s like watching dominos fall, but with less fun and more panic.” 😱

Amidst the chaos, Rekt Capital offered a glimmer of hope, comparing the current pullback to previous bull-market corrections 🌟. He reminded followers:

“In 2017 and 2021, similar retracements paved the way for new all-time highs. History loves repeating itself-just ask your ex.” 💔📈

All Eyes on Powell at Jackson Hole: Will He Save Us or Sink Us? 🎤

As the minutes from the Fed’s July FOMC meeting loom, traders are holding their breath for Jerome Powell’s speech at Jackson Hole. With markets desperate for rate cuts, Powell’s words will either soothe nerves or spark chaos 🔥.

QCP Capital summed it up perfectly:

“Markets are pricing in an 80-95% chance of a 25-basis-point cut next month-but data has a nasty habit of ruining plans faster than you can say ‘bull trap.’” 📊🤷‍♂️

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2025-08-20 18:17